Business Best it’s Been in Years According to New York Manufacturing Survey

The Federal Reserve Bank of New York has released its latest survey of the state’s manufacturing industry, this one reporting figures for August. The results showed a strong month across the board:

Manufacturing firms in New York State reported that business activity expanded strongly in August. The general business conditions index rose fifteen points to 25.2, its highest level since September 2014. Forty-two percent of respondents reported that conditions had improved over the month, while 17 percent reported that conditions had worsened. The new orders index climbed seven points to 20.6, pointing to a solid increase in orders, and the shipments index rose slightly to 12.4. The unfilled orders index held steady at -4.7. The delivery time index was little changed at 5.4, pointing to somewhat longer deliver times, and the inventories index fell to -3.1, indicating that inventory levels were slightly lower.

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